A Company Received a Bank Statement Showing a Balance of $77,000.Reconciling

question 103

Multiple Choice

A company received a bank statement showing a balance of $77,000.Reconciling items included outstanding cheques of $2300 and a deposit in transit of $9000.What is the company's adjusted bank balance?

• A)$68,000
• B)$70,300
• C)$65,700
• D)$83,700

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Definitions:

National Labor Relations Act

The National Labor Relations Act (NLRA) is a foundational statute of US labor law that guarantees workers the right to form unions and engage in collective bargaining.

Labor Unions

Organizations formed by workers to collectively negotiate with employers for better wages, working conditions, and benefits.

Sherman Anti-Trust Act

The Sherman Anti-Trust Act is a landmark U.S. legislation passed in 1890 that prohibits monopolies and other activities that restrict competition.

United Auto Workers

A labor union in the United States representing workers in the automotive industry.